PTC Inc. $PTC Shares Sold by Laurus Global Equity Management Inc.

Laurus Global Equity Management Inc. reduced its position in PTC Inc. (NASDAQ:PTC) by 16.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,486 shares of the technology company’s stock after selling 16,379 shares during the quarter. PTC makes up 11.6% of Laurus Global Equity Management Inc.’s portfolio, making the stock its largest holding. Laurus Global Equity Management Inc.’s holdings in PTC were worth $16,949,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Addison Capital Co lifted its stake in PTC by 3.4% during the third quarter. Addison Capital Co now owns 4,199 shares of the technology company’s stock worth $852,000 after purchasing an additional 137 shares during the period. New York State Common Retirement Fund raised its holdings in shares of PTC by 7.4% in the 3rd quarter. New York State Common Retirement Fund now owns 236,790 shares of the technology company’s stock worth $48,073,000 after buying an additional 16,330 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PTC by 14.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,807 shares of the technology company’s stock worth $3,818,000 after buying an additional 2,329 shares during the period. Ballentine Partners LLC boosted its stake in PTC by 2.7% in the 3rd quarter. Ballentine Partners LLC now owns 8,798 shares of the technology company’s stock valued at $1,786,000 after buying an additional 233 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in PTC by 1.7% in the third quarter. Federated Hermes Inc. now owns 332,137 shares of the technology company’s stock valued at $67,430,000 after acquiring an additional 5,505 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Price Performance

PTC stock opened at $161.91 on Thursday. The business’s 50-day simple moving average is $172.34 and its 200 day simple moving average is $191.56. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 2.74 and a beta of 1.01. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69.

PTC (NASDAQ:PTC) last released its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The company had revenue of $1.76 billion for the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. As a group, research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Citigroup reduced their target price on PTC from $185.00 to $181.00 and set a “neutral” rating on the stock in a report on Wednesday. Oppenheimer dropped their price target on PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price target on shares of PTC in a research report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.77.

Insider Buying and Selling at PTC

In other news, EVP Kristian Talvitie sold 50,291 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the transaction, the executive vice president owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This represents a 80.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of PTC stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the sale, the executive vice president directly owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,277 shares of company stock valued at $10,624,076 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.